State and local governments facing revenue shortfalls due to the pandemic are having to cut costs to stay afloat, and there's no guarantee Congress rescues them.
Kentucky is facing a potential 20% decline in tax revenues and a $300 million-plus budget shortfall thanks to the coronavirus pandemic.
It took three and a half years for the state to reach $500 million in revenue, and just two more years to double it.
Marijuana tax revenue has the biggest impact when there’s little other industry in town.
The end of the federal government's War On Weed is approaching fast. No matter how the details work out, that much seems pretty clear at this point.
In their interest to garner favor with U.S. companies (mainly in search of campaign funds), the U.S. Congress has allowed these companies to escape U.S. corporate taxes by magically declaring that their IP is located in some foreign tax haven.
Illinois's former Governor Edgar had it right months ago. Edgar characterized current Governor Rauner's refusal to negotiate a budget until he wins concessions on his ideological policy agenda as "hostage taking."
Huge municipalities like Chicago and Phoenix are drowning in underfunded pensions. Can tax revenue from legalized marijuana save the day?
At a time when more elected officials are turning their attention to income inequality in this country, increasing corporate tax breaks is no way to address it. Workers and their families are struggling to make ends meet. Communities are broken.
Basing a tax on a fictitious price means no one will ever know the correct tax. Taxpayers will spend time and money trying to beat the system, and government will spend time and money in self-defense.